On Thursday, bitcoin experienced a decline, reaching a low of $40,600, and has since been hovering slightly above the $41,000 mark. The cryptocurrency world is abuzz with speculation about the duration of this downturn, especially as the excitement surrounding the spot bitcoin exchange-traded fund (ETF) begins to wane.
Bitcoin
The bitcoin daily chart as of Jan. 19, 2024, depicts a predominantly downward trajectory. This shift from a peak near $49,048 to a more recent low close to $36,727 marks notable market volatility. The chart reflects a series of rises and falls, pointing to a market fraught with uncertainty. Although there has been a recent uptick, suggesting a slight recovery, it’s too early to determine if this is just a brief respite or the start of a significant market shift.
Delving into the 4-hour chart, the bearish momentum is markedly evident, highlighted by a repetitive sequence of lower peaks and troughs. This pattern signals persistent BTC selling pressure, a fact cor
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